summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill exempts certain veterans of the Armed Forces of the United States or the National Guard of New Jersey from the gross income tax. To qualify for the exemption, a veteran must: (1) be honorably discharged or released under honorable circumstances from active duty in the Armed Forces of the United States, a reserve component thereof, or the National Guard of New Jersey in a federal active duty status; and (2) have gross income of $50,000 or less.
AI Summary
This bill exempts certain veterans of the Armed Forces of the United States or the National Guard of New Jersey from the gross income tax. To qualify for the exemption, a veteran must be honorably discharged or released under honorable circumstances from active duty and have a gross income of $50,000 or less, regardless of their filing status. The bill will take effect immediately and apply to taxable years beginning on or after January 1 following the date of enactment.
Committee Categories
Military Affairs and Security
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Military and Veterans' Affairs Committee (on 01/09/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S868 |
| BillText | https://pub.njleg.gov/Bills/2024/S1000/868_I1.HTM |
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